On the evening of June 24th, India's MMTC announced that the urea was not quantitatively tendered, the bid will be opened on July 1and closed on July 8. The EID is August 16. This is the third tender for this fiscal year. On May 1st, India purchased 741,500 tons.

The market is very strong throughout July The nitrogen market is strong compared to other fertilizers, and manufacturers are smiling at the IFA meeting in Montreal this week. The general consensus is that firm pricing will continue. The price of urea rose slightly this week, with FOB price of 290 US

Last year's IFA meeting coincided with a very bullish period in the urea market, and it looks like it will be repeated this year, with one major exception. Prices rose by $25-30/ton from 12 months earlier, thus leaving less room for potential increases. Higher prices seem to have a firmer basis. Off

On June 4, the Sri Lankan Ministry of Agriculture tendered 60,000 tons of bagged granular urea and 5,500 tons of bagged prilled urea, which will be delivered to Colombo before mid-August. 9 quotations were received covering LC and all suppliers provided full tonnage. The lowest price is from Valency

Traders have joined the trend in IndiaTraders have joined the MMTC bid for the best opportunity to sell urea in the next six weeks, and sold more than 600,000 tons of urea to India this week. Adnoc and PIC have sold 120,000 tons.The net price isf 267-271 US dollars / ton FOB Middle East and 262-265